Report on Marketing Approach Analysis of Standard Bank Limited

Introduction

After many years of independence, the “Private Banking Sector” had been launched when in March 1983 the Government of Bangladesh came to a historical decision that their own authority would operate Pubali Bank Limited and Uttara Bank Limited privately. During that the time another 7 (seven) private banks had got the license to operate privately. Afterwards, every Govt. provided license for doing banking business in private sector. Consequently, Standard Bank Limited, a third generation bank, has witnessed a considerable improvement in its overall business performance during the year 2002. It is incorporated as a Public Limited Company on May 11, 1999 under the Companies Act, 1994 and the Bank achieved satisfactory progress from its commercial operations on June 03, 1999 having its registered office at Chamber Building (3rd floor), 122-124, Motijheel C/a., Dhaka-1000. SBL has introduced several new products on credit and deposit schemes. It also goes for Corporate and Retail Banking etc. The Bank also participated in fund Syndication with other Banks. Through all these myriad activities SBL has created a positive impact in the Market.

Diversification of products along with services and innovation of fresh products suited to the needs of the customers in the new millennium within the bounds of law has culminated in building up its image as a sound Bank in the market.

At present, about 4 Govt. banks, 30 private banks, 10 foreign banks and 5 specialized banks totaling 49 (forty nine) schedule banks are doing banking business in the country. Another 44 application for opening private bank have been submitted to the Govt. for approval.

The Bank has been obtained consent of the Securities and Exchange Commission to the Issue/Offer of Securities under the Securities and Exchange Ordinance 1969 and Public Issue Rules 1998. Accordingly the Bank has published its prospectus on June 29, 2003 in   The Daily Jugantor for public issue of shares. The Bank is listed with Dhaka Stock Exchange Ltd. and Chittagong Stock Exchange Ltd. and the shares have been treated as an ‘A’ category share in both stock exchange.

Research objectives

  • To assess customer satisfaction level.
  • Proper understanding and analysis of the customer.
  • To establish the brand image.
  • Proper understanding of the quality.
  • Proper understanding of the promotional tools.
  • To develop features of this customers.

Defining the variables

  • Quality
  • Rate
  • Promotion
  • Brand image
  • Logo
  • Durability
  • Maintenance cost
  • Place

Research methodology

Methodology basically depends on the nature of collecting data from the institution related with this report. As we have learned from the subject statistics that data can be collected by the way of two sources namely primary data and secondary data. Primary data is collected by preparing questionnaire that means face to face interview. Secondary data is collected from any reliable published report and collecting from internet.

Primary data

Primary data are those data, which are collected by the investigator for the purpose of a specific enquiry or study.  The way we collect primary data is

  • interviewing the focus group-Customer

Secondary data

When a person uses data, which has already been collected by someone else, such data is known as secondary data. Secondary data should be used with extra caution since someone else has collected it for his/her use. Before using such data we take good consideration about the reliability, accuracy, adequacy and suitability of the data to make the research perfect.

Sources of secondary data:

  • Newspapers/ Magazine articles
  • Television
  • Newsletters
  • Websites

Sample: Our focus groups are those people who are the customers or prospects of general banking from age18 to above.

Sample size: The sample size of the research is 70.

Types of sampling:

We find that it is the preferable ways to select our sample size based on our judgment as the study allow us a shorter period of time. So we select the following type of sampling procedur.

Expected out comes

Research involved the identification, collection, analysis and use of information. So we try to find out cause of “Performance appraisal general banking” Of standard bank ltd. And also come up new idea to solve this kind of problem.

Limitation of the study:

In collecting information, there were some problems because of the excessive nature of confidentiality maintained by the officials of SBL. Some data could not be verified. In most cases there is any option but assuming data without verification. As the specified a short time, sufficient

time could not spend required to make on in-depth study on such an important issue. The scope of the study was limited by the availability of data.

Objectives

  • To be a dynamic leader in the financial market in innovating new products as to the needs of the society.
  • To earn positive economic value addition (EVA) each year to come.
  • To top the list in respect of cost efficiency of all the commercial Banks.
  • To become one of the best financial institutions in Bangladesh economy participating in the most significant segments of business market that we serve.

Core Values

  • Our Shareholders: By ensuring fair return on their investment through generating stable profit.
  • Our customer: To become most caring bank by providing the most courteous and efficient service in every area of our business.
  • Our employee: By promoting the well being of the members of the staff.
  • Community: Assuring our socially responsible corporate entity in a tangible manner through close adherence to national policies and objectives.

Mission & Vision

Vision

To be a modern Bank having the object of building a sound national economy and to contribute significantly to the Public Exchequer.

Mission

To be the best private commercial bank in Bangladesh in terms of efficiency, capital adequacy, asset quality, sound management and profitability.

Message from S. A. Farooqui,
Managing Director’s

In the year 2009, Standard Bank Limited has registered record growth and best results since it was established in 1999. Our business continued to grow in all areas of banking operation and we have achieved significant progress which confirms that we are moving in right direction. The global economic meltdown that originated in United States has by and large impacted most of the advanced economies of the world but Bangladesh economy has done fairly well despite many challenges. Ever since the n

Board of Directors

Name

Designation

View

Mr. Kazi Akramuddin Ahamed

Chairman

Details

Mr. Harun-Or-Rashid

Vice-Chairman

Details

Mr. Kamal Mostafa Chowdhury

Sponsors

Name

Designation

View

Mr. Mohammad Nurul Islam

Sponsor

Details

Mr. Nani Gopal Saha

Sponsor

Details

Mr. Ferozur Rahman

Sponsor

Details

Mr. Harun Rashid Chowdhury

Sponsor

Details

Mr.Md. Monzurul Alam

Sponsor

Details

Mr. S. A. M. Hossain

Sponsor

Details

Mr. Mohammed Abdul Aziz

Sponsor

Details

Mr. Harun Or Rashid

Sponsor

Details

Management Team

Name

Designation

View

Mr. S.A. Farooqui

Managing Director

Details

Mr.Md. Nazmus Salehin

Additional Managing Director

Details

Mr.Md. Alauddin Al Azad

Deputy Managing Director

Details

Mr.Md. Abul Hossain

Deputy Managing Director

Details

Mr. A F M Nizamul Islam Chowdhury

Board Secretary & Executive Vice President

Details

Mr. A F Jamal Uddin

Senior Executive Vice President

Details

Mr. Mufakhkharul Islam

Executive Vice President

Details

Mr. Sayed Mohammad Masum

Executive Vice President

Details

Mr.Md. Nazrul Islam

Executive Vice President

Details

Ms. Syeda Khaleda Begum

Senior Vice President

Details

Mr.Md. Nurus Safa

Senior Vice President

Details

Mr. Mohammad Abdul Wali

Senior Vice President

Details

Mr. Syed Anisur Rahman

Vice President

Details

Mr. Mohammad Abdul Qaium Khan

Vice President

Details

Mr.Md. Nurul Islam

Vice President

Details

Mr.Md. Sanaullah

Sr. Asst. Vice President

Details

Mr.Md. Rezaul Karim

Sr. Asst. Vice President

Details

Mr. Kazi Zahirul Haque

Sr. Asst. Vice President

Details

Mrs. Arjoomand Begum

Assistant Vice President

Details

Mr. S.M. Mizanur Rahman

Assistant Vice President

Details

Mr. Syed Mosnoor Ali

Assistant Vice President

Details

Mrs. Rubina Khan

Assistant Vice President

Details

Ms. Ashfa Khanam

Assistant Vice President

Details

Mrs. Rebeka Sultana

Assistant Vice President

Details

Mr.Md. Zahangir Alam

Assistant Vice President

Details

Mr.Md. Shafiqul Hassan

Assistant Vice President

Details

Incharges Of Branches

Name

Designation

Branch Name

View

Mr. Kazi Md. Talha

Senior Vice President

Principal

Details

Mr.Md. Tajul Islam Chowdhury

Assistant Vice President

Khatungonj

Details

Mr. Kazi Mohidur rahman

Assistant Vice President

Imamgonj

Details

Mr. Mohamad Ali

Senior Vice President

Topkhana Road

Details

Mr. Mir Mohammad Emrul Kayes

First Assistant Vice President

Chowdhuryhat

Details

Mr. Sheikh Abu Ahmed

Senior Vice President

Agrabad

Details

Ms. Haider Nurun Naher

Senior Vice President

Khulna

Details

Mr. Naim Md. Abdur Rashid

Senior Vice President

Gulshan

Details

Mr.Md. Gaznafar Ali

Vice President

Sylhet

Details

Mr.Md. Moyeedul Islam

First Assistant Vice President

Munshikhola

Details

Mr. S. M. Amir Hossain

Assistant Vice President

Jubilee Road

Details

Mr.Md. Suruj Ali

Sr. Asst. Vice President

Foreign Exchange

Details

Mr. H. A. Z. M. Mahegir

Vice President

Dhanmondi

Details

Mr.Md. Zakirul Islam

Sr. Asst. Vice President

UttaraModelTown

Details

Mr. S. M. Janab Ali

Senior Executive Officer

Takerhat Bazar

Details

Mr.Md. Nurul Islam

Assistant Vice President

Panthapath

Details

Mr. Ashek Abedin

Assistant Vice President

Gulshan-1

Details

Mr.Md. Nurul Islam

Vice President

Rajshahi

Details

Mr.Md. Masudur Rahman

Assistant Vice President

Benapole

Details

Mr.Md. Zahidul Hasan

First Assistant Vice President

Jessore

Details

Mr.Md. Shahabuddin Chisti

Sr. Asst. Vice President

Narayangonj

Details

Mr. Kanchan Kumar dey

Assistant Vice President

CDA Avenue

Details

Mr. Munshi Golam Rahman

Assistant Vice President

Ekuria

Details

Mr. Muhammad Muzibar Rahman

First Assistant Vice President

Gopalgonj

Details

Mr. Muhammad Ali

Sr. Asst. Vice President

Brahmanbaria

Details

Mr. Rahim Khan

Assistant Vice President

Banani

Details

Mr. Humayun Kabir

Assistant Vice President

Dakhin Khan

Details

Mr.Md. Khorshed Alam

First Assistant Vice President

Ctg. EPZ

Details

Mr. Sheikh Lutfar Rahman

Assistant Vice President

Bahaddarhat

Details

Mr. Abu Md. Maqusuduzzaman Laskar

Senior Vice President

Mirpur

Details

Mr.Md. Anwar Hossain

Assistant Vice President

Matuail

Details

Mr.Md. Shafiqul Islam

First Assistant Vice President

Barisal

Details

Mr.Md. Nayeem Chowdhury

Assistant Vice President

Bogra

Details

Mr.Md. Kazi Shahed Ali

Senior Officer

Kotwalipara

Details

Mr.Md. Emdadul Hassan

Assistant Vice President

Pahartali

Details

Mr. S. M. Shahiduzzaman

First Assistant Vice President

Cox’s Bazar

Details

Mr. A.H.M Monzur Quader Khan

Vice President

Progati Sharani

Details

Mr. Aby sayeed

Vice President

Rangpur

Details

Mr. Kamal Ahmed

Senior Executive Officer

Beani Bazar

Details

Mr. Nobel Ganguly

Senior Officer

Moulvi Bazar

 

Contribute National Economy through financial service & support

The Bank has extended their hands to Rural & SME enterprises, which are the ultimate driving force of their economy. Without collateral security up to Tk. 10.00 Lacs the Bank are lending to Service, Trading and Manufacturing sectors. The Bank also extending loan in the sector of Consumer financing in the country. To make dreams fulfilled at once they finance service holders and different professionals.

Community involvement welfare programs through donations and sponsorships

The Bank has extending their service for humanitarian activities by contributing to charities and non-profit organizations with the vision to help the distress people goals that help build strong relationships.

1Donation to the Honorable Prime Minister’s Relief Fund11000000.00
2

Donation towards distressed Army Family members, assassinated during

the BDR mutiny

1440000.00

3Help to the poor people for treatment purpose522000.004Financial help for marriage ceremony of orphan (girl)12000.005Educational stipends to poor & meritorious students62000.006Infrastructure development of national institute (BAB)2800000.007help to other needy people157000.00 Total15993000.00

 

 

Employee welfare initiatives

Apart from regular permissible benefit of the employees of the Bank has been enjoying Provident Fund, Gratuity, Leave encashment, Insurance Scheme and Benevolent Fund facilities.  The Bank also offer couple of Employee loan program at a special interest rate as Housing, Transport & Consumer loan facility etc.

Foreign Remittance

Inward foreign remittance is one of major sources of the foreign currency reserve of the country and in order to encourage inflow of remittances through banking channel from the Non-resident Bangladeshis, Standard Bank Limited provides quality service for repatriation and collection of remittances with the help of its foreign correspondents and trained personnel. Remittance services provided by Standard Bank Limited are:

Function of Trade Finance

Trade finance consists some areas of activity like Bills import, Bills export, Bills processing unit. It has some basic function such as i) All transaction related to import transaction ii) All transaction related to export transaction iii) Handling of L/C reimbursement iv) Checking and collection of export bills for correspond Banks

The above activities are guided by the some guidelines as like i) Banks Operational Manual ii) Exchange Control Manual iii) Import and export policy order iii) Uniform custom and practice documentary credits iv) ICC uniform Rules for collections v) ICC uniform rules for Bank to Bank reimbursement vi) SBL Bank KYC policy vii) Bangladesh sanction boycotts.

Bills counter services are i) providing information regarding L/C, ii) Receiving L/C application iii) Close investing of L/C application by the department head iv) Forwarding the L/C V) Review of L/C application form through the market department vi) Approving the application from through the market department vii) L/C document includes some papers among many like i) Shipment Airway Bill or Bill of leading, Debit advice, Advance endorsement, Draft, Bill of exchange, Certificate of origin, Insurance declaration. Payment instruction for L/C is transmitted through society for World wide International Financial Telecommunication (SWIFT).

Inward Remittance
Process / collection of cheque / Draft, TT, EFT in USD, GBP, EURO, AUD and JPY

Outward Remittance

  • Issuance of FDD, TT, EFT in USD, GBP,EURO, AUD and JPY
  • Issuance of AMEX Travellers Cheques in USD
  • Handling of Student file of the students going abroad for educational purpose in USD, GBP, EURO, AUD and JPY

Foreign Currency Accounts

Standard Bank Limited provides different account services as prescribed by the guidelines of central bank and offer competitive interest rate for those accounts.

  • Foreign Currency Account. (FC)
  • Non- Resident Foreign Currency Deposit Account (NFCD)
  • Resident Foreign Currency Deposit Account (RFCD)
  • Non Resident Non-convertible Taka Account.

The Bank has remittance arrangement with Wall Street Finance – USA. Under the arrangement, Bangladeshi expatriates from USA, Canada and UK. can remit their earnings easily.

In July 2008, the bank has started operation by signing agreement with MoneyGram Inc. USA to facilitate the WES earners to remit their money from all over the world by using the Global Network of MoneyGram. In addition, bank has signed agreement with EconomicExchangeCenter and UniversalExchangeCenter in UAE. Operation will be started immediately after completion of all formalities and Central Bank’s compliance.

In order to explore more remittance possibilities, our bank continues its communication to make remittance arrangement with different Exchange Houses in U.A.E., Qatar, Italy, U.K., U.S.A., Canada, Malaysia, Singapore, Oman and Spain.

Foreign Exchange dealing desk deals with different currencies in inter-bank market from liquidity perspective. Every day we offer competitive exchange rates for these currencies against BDT.

FX products: Our daily foreign exchange products range as follows:

Spot dealing.

Forward dealing.

SWAPS.

Forex- Commercial and non-commercial.

International Trade

Standard Bank Limited has been playing a significant role in the overall foreign exchange business of the bank and in the market arena of the country since inception of the bank. The bank is contributing in the country’s national economy after successfully handling  transactions offering a broad spectrum of Trade Finance Product under International Trade through its 15 A.D. Branches.

MoneyMarket

Money market comprises all sorts of deals with local currency in inter-bank /NBFI market in Bangladesh. Standard Bank Limited’s money market desk lends and borrows a remarkable amount for liquidity management and arbitrage in a lucrative manner. A recurrent deal in the market makes Standard Bank Limited. as an agile and active participant in the money market of Bangladesh. Money market of the bank deals with:

Overnight (call) lending and borrowing with Banks-NBFIs.

Term placement and with Banks-NBFIs

REPO/Reverse REPO of govt. security scripts with central bank and other commercial banks.

We take a very dominant rule for coding rate and various market projections in our Money market through our everyday deals.

SBL Treasury is a core-banking unit and it is one of the major sources of earning of the Bank. Our Treasury Division comprises with two wings. One is Money Market Dealing with the Local Currency for managing and utilizing fund and the other is Foreign Exchange Dealing with the Foreign Currency. We have a skilled Treasury Team working for prudent fund management.

Exchange House

We have opened “Standard Exchange Co. (U.K.) Ltd” on 20th august 2009 at 101 Whitechapel Road, LondonE1 1DT,U.K.; 100% owned subsidiary company of Standard Bank Limited. In the Year 2010, we have received BDT 263.11 million remittance from U.K. through our Standard Exchange Co. Meantime, we have already obtained permission from Bangladesh Bank to open another subsidiary exchange company of the bank in U S A. the bank has a plan to open Exchange House in Canada, Malaysia and Italy in near future subject to obtaining Bangladesh Bank’s approval. As a result, Bangladeshi expatriates will be able to remit their earnings easily and with ease and comfort.

 Treasiruy

Treasury unit is a core-banking unit and Standard Bank Limited’s treasury unit is one of the best earning sources of the bank. The bank is well equipped with skilled human resources for efficient dealing. Our everyday business involves around participation in Foreign exchange market and Money Market in a substantial volume.

SBL Risk Management

Standard Bank Limited (SBL) has been managing and controlling risks as the Bank feels the issue of Risk Management is vitally important to the organization’s success and sustainability. As a consequence, it has developed and implemented a comprehensive risk management infrastructure including policies and procedures that follow Bangladesh Bank’s guidelines.

Our major risk management objectives include understanding and recognizing risks, assigning responsibility for risks and ensuring the development of the organization’s risk management capabilities. Operationally the bank’s mission is to realize the highest possible risk-based return while at the same time effectively and efficiently achieving its overall objectives.

Strategic Business Outlook

Quality service and thus up-holding the goodwill is the mission and vision of the Bank and thus to achieve the recognition as one of the most reputed Bank focusing clientele all over the country. Keeping that mission and vision in view, last year the On-line Banking has been started in almost all branches out of 32 with the modern STEALER software whereas 3 SME Center has been opened in rural areas. 8 more new branches and a good numbers of SME Centers will be opened in near future with the purpose to reach our service at every doorstep. Real time banking will be eventually commenced with the products of Credit Card, Debit Card and ATM facility to meet-up the challenges of highly competitive banking sector within the country and abroad.

CSR Activities

  • SBL donates crest and cheque to war wounded Freedom Fighter
  •  SBL donates a cheque at deceased Army Family of BDR Mutiny.
  •  SBL donates a cheque for Flood Victim people
  • SBL serves the people setting up a temporary eye treatment project
  • SBL donates cheque & crest to Meritorious student
  • SBL has donated computers to School Students at Savar
  • SBL contributes donation for Victims of BDR Mutiny

SBL Regular Deposit Programme ( SRDP ) 

* If any monthly installment remains unpaid for 5 (five) consecutive months, the account will be closed automatically and the account will be settled as detailed below:-

Relationship/ TenureApplied Interest
Less than 1(one) yearNo interest
More than 1 year but less 3 yearsSavings Rate
More than 3 years but less 5 yearsMatured value of 3 years and rest as per prevailing interest rate on savings rate
More than 5 years but less 10 yearsMatured value of 5 years and rest as per prevailing interest rate on savings rate.

 

If failure to pay monthly installment on due dates he/she will pay penalty of Tk. 20/-(Twenty) next subsequent installment.

Monthly Installment, Tenure and Maturity Value will be as per following Schedule:-

Installment / Years

300

500

1000

2000

2500

5000

10000

3 Years

13,000

21,700

43,400

86,800

1,08,600

2,17,200

4,34,400

5 Years

24,700

41,400

82,800

1,65,600

2,07,000

4,14,000

8,28,000

7 Years

39,900

65,600

1,31,200

2,62,400

3,28,000

6,56,000

13,12,000

10 Years

69,100

1,15,100

2,30,200

4,60,400

5,75,500

11,51,000

23,02,000

SBL Regular Income Programme ( SRIP )

1. SBL Regular Income Program is an income program, which helps you to earn a monthly fixed
amount on your deposits at SBL for period of 3 years.

2. Deposit of Tk. 50,000/- (Fifty Thousand) and multiples thereof but maximum limit of
Tk. 25,00,000/- (Taka Twenty Five Lac) at a time and depositor will earn 36 equal monthly profit.

Depositor can earn money due date as per following schedule:-

Deposit Amount50,0001,00,0002,00,0003,00,0004,00,000 & above
Monthly Interest Payable5001,0002,0003,0004,000 & Above

N. P : This schedule changeable.

SBL Double Income Plus ( DI+ ) Programme

1. Deposit of Tk. 10,000/- (Ten Thousand) and multiples thereof will be acceptable under this program.

2. A specially designed receipt shall be issued for the deposit under this program.

3. The instrument shall be issued for 6 years.

4. At maturity after 6 years the depositor will be get double plus (DI+).

5. If any depositor intends to withdraw his deposit before maturity, the following rules will apply :-

No benefit including interest/profit shall be allowed for pre-mature encashment within 1 (one)year.

If the accounts/deposits are closed/en-cashed after 1 (one) year of its opening interest shall be allowed on the deposit at prevailing FDR Interest Rate.

6. The instrument will be acceptable as collateral security against any investment subject to registering lien with the issuing Branch.

7. In case of instrument get lost, the procedure for the issuance of a duplicate receipt will be the same as applicable in case of loss of FDR.

SBL 5 ( Five ) Lacs Savings Scheme 

1. Any body can open this scheme by Deposited Tk.5,000/-(five thousand) only per Month.

2. The tenure of the scheme is 6 (six) years.

3. After Six Years Depositor will get Tk. 5,20,000/-.

4. If failure to pay monthly installment on due dates he/she will pay penalty of Tk. 20/-(twenty) on
next subsequent installment.

5. In case of premature close of the account the account holder will get savings rate interest but not
interest less than 6 (six) months.

6. If 4 (four) consecutive monthly installment unpaid the account will be closed automatically.

SBL 10 ( Ten ) Lacs Savings Scheme

1. Any body can open this scheme by deposited Tk. 4,500/- (four thousand five hundred) only per
month.

2. This scheme tenure 10 (Ten) years.

3. After 10 (Ten) years depositor will get Tk. 10,00,000/.

4. If failure to pay monthly installment on due dates he/she will pay penalty of Tk. 20/- (twenty) next
subsequent installment.

5. In case of premature close of the account the account holder will get saving rate interest but not
interest less than 6 (six) months.

6. If 4 (four) consecutive monthly installment unpaid the account will be closed automatically.

SBL Lakhapoti Plus ( SLP+ ) Programms

1. The depositor will have the option to choose any installment size at the time of opening of the
account and will not be allowed change the size of installment afterwards.

2. In case of premature closing of the account minimum after 1 (one) year completion, the
account holder will get Saving Rate of Interest only. But no interest will be paid before 1 (one)
year completion of continued payment.

3. In case of premature close of the account the account holder will get savings rate
interest but not interest less than 6 (six) months.

4. If any client fails to pay monthly installment on due dates in maximum 4 (four) months he/she will
pay penalty of Tk. 20/- (Twenty) per month to the next subsequent installment.

5. If any client fails to pay 4 (four) consecutive monthly installments the account will be closed
automatically.

Monthly Installment, Tenure and Maturity Value will be as per following Schedule :

Monthly Installment

Tenure

Amount to be paid after Maturity

3,800

2 Years

1,03,460

2,600

3 Years

1,12,950

1,400

5 Years

1,15,090

800

7 Years

1,33,800

600

10 Years

1,38,210

Consumer Credit Scheme

Lending rate has been shown in the following table where fixed rate (Bangladesh bank instructed rate) and mid-rate are given. Bank may re-fix ±1.50 over the mid rate considering the risk involvement. These rates are effective from January 01, 2010.

 

SL

Particulars

Fixed Rate

Mid Rate

01

Consumer Credit Scheme (Staff)

12.00%

02

Consumer Credit Scheme (Commercial)

14.00%

1.00% additional interest rate will be charged for default in payment/ adjustment. All other charges, commissions and fees shall remain unchanged.

1.00% additional interest rate will be charged for default in payment/ adjustment. All other charges, commissions and fees shall remain unchanged.

HouseBuilding Loan:

Lending rate has been shown in the following table where fixed rate (Bangladesh bank instructed rate) and mid-rate are given. Bank may re-fix ±1.50 over the mid rate considering the risk involvement. These rates are effective from January 01, 2010.

SL

Particulars

Fixed Rate

Mid Rate

01

HouseBuilding Loan (Staff)

9.00%

02

HouseBuilding Loan (Commercial)

13.00%

03

HouseBuilding Loan (Residential)

14.00%

1.00% additional interest rate will be charged for default in payment/ adjustment. All other charges, commissions and fees shall remain unchanged.

Fees & Charges for VISA Credit Card (Gold Card) of Standard Bank Ltd.

 

FEES AND CHARGES OF SBL VISA CREDIT CARD (Gold Card)

PARTICULARS OF PAYMENT

GOLD LOCAL (TK)

GOLD INT’L ($)

GOLD DUAL ($)

ANNUAL/RENEWAL FEE

1500

20

22

REPLACEMENT FEE

300

4

5

SUPPLEMENTARY CARD FEE

FREE

FREE

FREE

LATE PAYMENT FEE

300

4

5

STATEMENT RETRIVAL FEE

50

1

2

CHARGE SLIP RETRIVAL FEE

250

4

5

PIN REISSUE FEEE

500

8

9

CASH ADVANCE FEE FROM ATM

TK.100 OR 2% OF WITHDRAWAL AMOUNT,WHICH EVER IS HIGHER

CASH ADVANCE FEE FROM BRANCH

TK.100 OR 2% OF WITHDRAWAL AMOUNT,WHICH EVER IS HIGHER

CASH ADVANCE LIMIT

50% OF THE TOTAL CARD LIMIT

INTEREST ON CASH ADVANCE

2.5% PER MONTH

 

SPECIAL NOTE:

  1. FOR OUR OWN EMPLOYEES AND OTHER BANKERS, ANNUAL/RENEWAL FEE IS 50% OF THE PRESCRIBED AMOUNT.
  2. FOR OUR OWN EMPLOYEES, LIMIT IS TWICE OF NET SALARY.
  3. FOR CLIENTS, LIMIT DEPENDS ON BRANCH MANAGER’S RECOMMANDATION AND CREDIT COMMITTEE’S ASSESSMENT.
  4. 15% VAT SHOULD BE APPLICABLE ON ANNUAL/RENEWAL FEE AND CASH ADVANCE FEE.

Loan scheme

General loan scheme

  • Consumer credit scheme
  • House building loan
  • Export credit
  • Cash credit
  • Term loan
  • Car loan
  • Home loan

GENERAL BANKING OF SBL

 

During my internee I have observed different banking activities which lead the banking transaction smoothly, they are as follows:

  • Dispatch
  • Accounts opening (savings, current, Term deposit, and SRDP)
  • Cheque clearing
  • Accounts
  • Dispatch: The main function of dispatch division is dispatching all types of documents such as OBC, LBC (local bill clearing), IBC, DD (Demand Draft), , and has to prepare different types credit & debit voucher to maintain the banking transaction. I had to receive every type of letter and documents and had to maintain a register book in SBL

Dispatching division maintain two types of mail, they are as follows;

  • In ward mail
  • Out ward mail

Inward mail

In ward mail describe if any letter comes from outside then that letter has to be registered, and the processing has given bellow:

  • Put receive seal on that letter
  • Put a serial number
  • Put the serial number in the register book with a brief particular so that manager can easily mark.

Out ward mail

When it is necessary to dispatch any types of letter or document, we had to follow the rules given bellow:

  • Put serial number
  • Write the particulars in out ward register book.

Out ward register done in three ways:

  • By courier service (locally)
  • DHL/Fed ex
  • Register post

Monthly savings scheme

Monthly savings scheme is basically very help full for students or limited money earning people.

Monthly installment amount

Matured value

3 years5years
TK.          300.0012,550.0022,800.00
TK.          500.0020,900.0038,000.00
TK           1,000.0041,800.0076,000.00
TK           2,000.0083,600.001,52,000.00
TK           2,500.001,04,500.001,90,000.00
TK           5,000.002,09,000.003,80,000.00
TK           1,0000.004,18,000.007,60,000.00

Documents requirements for MSS:

  • Two copies of passport size photos
  • Nominee photo with address
  • An introducer who exist in SBL
  • National ID card or chairmen certificate or word commissioner certificate

Fixed term deposit account

Fixed term deposit application form has been used both for application form and as a credit voucher for the bank. In the case of FDR it is clearly mention that when this amount will be withdrawn, the account holder will receive principle amount plus interest. FDR account holder gets a FDR slip that is provided by the SBL officer. FDR slip contains name of the account holder, deposited amount, interest rate, and time of maturity by which a banker or officer can identify the claimer.

CASH SECTION

 

Cash department is the most vital and sensitive organ of the branch as it deals with all kinds of opening cash Standard Bank are transferred to the cash officers from the cash vault. Net cash transactions. This department starts the day with cash in vault. Each day some cash that is figure of this cash receipts and payments are added to the opening cash standard Bank. The figure is called closing Standard Bank. This closing Standard Banka is then added to the vault. And this is the final cash standard Bank figure for thebank at the end of any particular day. Cash department in the Standard Bank, FederationBranch is authorized dealer of foreign currency, so it can deal with buying and selling of foreign currency.

Functions of Cash Department

 

Cash Payment

 

Cash payment is made only against cheque. This is the unique function of the banking system which is known as “payment on demand”. It makes payment only against its printed valid Cheque

Cash Receipt

 

It receives deposits from the depositors in form of cash. So it is the “mobilization unit” of the banking system. It collects money only its receipts forms

Cash payment or Cheque cancellation process

 

Step 1

Receiving Cheque by the employee in the cash counter, Verification of the followings by the cash Officer in the computer section, Date of the Cheque (it is presented within 6 month from issue date).Step 2Issued from this branch, Amounts in figure and sentence written does not differ, Signature of the drawer does not differ, Cheque is not torn or mutilatedStep 3Gives pay cash seal and sends to the payment counterStep 4Payment officer makes payment

 

Books maintained by this section

 

Vault RegisterIt keeps account of cash Standard Bank in vault in the bank
Cash Receipt RegisterCash receipt in whole of the day is recorded here.
Cash Payment RegisterCash payments are made in a day are entered here.
Rough VaultRegister Cash calculation for final entry in vault register is done here, as any error and correction here is not acceptable
Cash Standard Bank Book

Here is compared with vault register. If no difference is found, indicates no error.

 

In book 1 and book 5, notes and currency are recorded by mentioning their denominations and number of each denomination. Same set of these books is maintained separately for both local and foreign currency.

ACCOUNT OPENING

This section opens accounts. Selection of customer is very important for the bank because banks success and failure largely depends on their customers. If customer is bad, they may create fraud and forgery by their account with bank and thus destroy goodwill of banks.

There are different types of accounts

  • Current account (CD)
  • Savings account (SB)
  • Monthly savings account (MSS)
  • Term deposit account (FDR)
  • Short term account (STD)
  • Special deposit scheme (SDS)

Current account (CD)

A current account holder can easily deposit or withdraw his or her money any time within the banking hour without any restriction.

Current account can be divided into four types, such as;

  • Individual current account
  • Proprietary current account
  • Current partnership account
  • Current account for limited companies

Following resources are necessary to open an account:

  • Two copies passport size photos
  • An introducer, who have an account in SBL, Banani Branch
  • National ID card or word commissioner certificate or chairman certificate
  • Nominee photos and he or she has to be more then 18 years old
  • Sources of earnings

Proprietor current account:

  • Trade license
  • TIN number
  • An introducer
  • Seal of the applicant
  • National ID card or word commissioner certificate or chairman certificate

Current partnership account:

  • Partnership agreement
  • Trade license
  • An introducer, who have an account in SBL, Banani Branch
  • National ID card or word commissioner certificate or chairman certificate

Current account for limited company:

  • Memorandum and articles of association of the company
  • Power of attorney
  • Resolution of the board of director

Following documents which is certified by the chairman of the company:

  • List of the directors
  • Certificate of commencement of business
  • Certificate of incorporation

Savings account

There are a few restrictions in savings account, a savings account holder can cash his money two times in a week. Savings account has to be open within the first 10 days of any month. Savings account can be open by individual, joint or club, society, association, etc.

Requirements for opening an individual savings account:

  • Two copies passport size photos
  • An introducer, who have an account in SBL, Banani Branch
  • National ID card or word commissioner certificate or chairman certificate
  • TIN number
  • Name of the nominee

Requirements for opening a joint savings account:

  • Two copies passport size photos(both parties)
  • Amount could be  received by both signature or any party can withdraw money
  • An introducer, who have an account in SBL, Banani Branch
  • National ID card or word commissioner certificate or chairman certificate

Some rules if savings account:

  • Account opening money at least TK 500
  • If the account holder wants to close the account, he or she has to pay 100tk as a service charge.
  • Savings account interest rate is 6%
  • Depositors cannot withdraw money more than  two times in a week

So, this section takes extreme caution in selecting its customer base.

Accounts opening process

 

Step 1Receiving filled up application in bank’s prescribed form mentioning what type of account is desired to be opened
Step 2

a)       The form is filled up by the applicant himself / herself

b)       Two copies of passport size photographs from individual are taken, in case of firms photographs

c)       of all partners are take

d)       Applicants must submit required documents

e)       Application must sign specimen signature sheet and give mandate

f)        Introducer’s signature and accounts number – verified by legal officerStep 3Authorized Officer accepts the applicationStep 4Minimum Standard Bank is deposited – only cash is acceptedStep 5Account is opened and a Cheque book and pay-in-slip book is given

 

 

 

 

 

 

 

 

CHEQUE CLEARING

This section receives all kinds of Cheques in favor of the client for clearing as the part of their banking service. After receiving the Cheque it is necessary to endorse it and cross it specially.

Basically the Cheques for clearing are of following types:

TypesExplanationClearing Process
Inward

Clearing

ChequeCheques received from the Clearing House, of our bankParty’s A/C         ————Dr.

SBL General Account—Cr.Outward

ClearingOBC

(Outward

Bills for Collection)Cheques of other

branch of Standard

Bank within  our

clearing house areaThese Cheques are directly sent to the respective branch and request them to send IBCA. When IBCA comes, then customer’s accounts are credited for the amount of the Cheque. Clearing ChequeCheques of another bank within our clearing house areaThese Cheques are sent to clearing house via the Motijheel Branch. When bank honor the Cheques, then the account of Cheque depositors are credited. OBC

(Outward

Bills for

Collection)Cheques of another

Bank which is

Situated outside the clearing areaThese Cheques are cleared in two ways:

Firstly, if any branch of our bank exists within the clearinghouse area of drawee bank, then we send the Cheque to that branch of our bank and that branch collects the proceeds through clearing house formalities and sends an IBCA to us.

In second way, if there is no branch of our bank, then we directly sends the Cheque to the drawee bank and request them to send the proceeds by TT, MT, or DD or by in any other meansInward

Bills for

Collection

(IBC)From other branch of Standard BankThese Cheques are settled by sending

IBCA, i.e. debiting depositor’s account and crediting sender’s branch account. From another bank outside the clearinghouseThese Cheques are settled debiting depositor’s account and sending DD, MT, TT in favor of sender’s bank

 

Survey Questionnaire

Survey Questionnaire on

“Marketing Approaches Analysis of General Banking of SBL”

Profession:

1. What kinds of account open in “Khulna Branch”?

  • Savings A/C
  • Current A/C
  • STD
  • FDR
  • Others

2. Which factors influenced you most to open an account here in this branch?

  • Because of its proper service
  • Matched with any exception
  • Reliable management
  • Near from located area
  • Others

3. Which Kinds of services you preferred in Standard Bank Ltd?

  • Fully technology based service
  • Mixture(technology and mixture)

4. Do you get the proper official behavior as promised?

  • Helpful
  • Not helpful

5. Do you think today’s customer service is much better rather than past?

  • Much better
  • Remain unchanged

6. Which scheme you like most?

  • SRDP
  • SRIP
  • DI+

7. Do you familiarity about online banking services?

  • Good knowledge
  • No knowledge

8. If yes, then what are reasons behind for using online technology in The Standard Bank Ltd?

  • Quick service and better performance
  • Just quick service

9. Do you have maintained transaction with any other bank?

  • Transaction with other banks
  • Don’t transaction with other banks

10.What type of factors behind for maintaining account or transaction with other banks?

  • Don’t get better facilities
  • Other bank official help to open account

11. Would you like to share your experiences, ideas, suggestions and comments about the improvement of the Standard Bank Limited, which will help them to serve you better?

Research Finding:

Account Opening:

According to the research, the majority groups of customers are operating their account more than one years in Standard Bank Ltd. interesting point is that among 35 customers, 13(37.14%) customer of them maintain savings account in the bank, 10(28.57%) customers have current account and 4(11.42%) customers have STD account, 6(17.42%) maintain FDR account, 2(5.71%) customer of them maintain others account in the standard bank ltd.

Reason behind Opening an Account

In this part 45.71% customers told that it proper service was the main reason behind opening an account in The Standard Bank Ltd Khulna branch. On the other hand 25.71% said that location was the other factor to open an account here in this branch.8.71% customer matched with any exception and 20% have other reason.

Different Kinds of Services:

57.14% of the customers preferred fully technology based service in The Standard Bank. On the other hand, rest of the customers preferred mixture(technology & mixture)services in the bank.

The Behavior of the SBL officials:

97.14% of the customers said that the officials are helpful as well as behave better with them in Standard Bank. On the other hand only one customer said that bank official’s behavior is hot helpful.

Compare Today’s Service of SBL with The Past:

Most customers opined that they are much better satisfied towards today’s service of the Standard Bank Ltd. Rather than the past.17.14% customers said that the customer service department remains unchanged if they compare today’s service from the past.

Different Schemes:

Majority group of customers (42.85%) opined that they like SBL double income plus (DI+) schemes most.28.57% customers like SBL regular deposit programme (SRDP) and rest of the customer like SBL regular income programme (SRIP).

Online Banking Service:

Most customers (62.85%) opined that they have a good knowledge about online banking service.

On the other hand 37.14% of the customers don’t have any idea about online banking

Reason Behind for using online Technology in SBL:

60% opined that quick service and better performance are the main reason behind using online technology in SBL. On the other hand 40% customers said that they would get quick service by online technology.

Transaction with any other bank

Majority group of clients (82.85%) mentioned that they maintain account or transaction with other bank. On the other hand 17.14% customers don’t have any transaction with any other bank.

Reasons behind for maintaining account or transaction with other banks:

85.71% customers said that they do not get better and quick service from The SBL because there have not sufficient ATM card service and many other facilities in The SBL. For these reason they opened account in other bank. On the other hand 17.14% customer told that relation with bank officials helps them to open account in other bank.

Some ways for improvement of The Standard Bank Limited:

Somebody suggested that ATM card service which would provide 24 hours banking facilities ti the customers.

Somebody opined that The standard Bank should improve the internal structure.

Somebody instructed that by introducing attractive credit & savings scheme The standard Bank could increase their customer.

Only one customer pined that The Standard Bank should increase the qualification of their employees.

Research Analysis:

  • According to the research, most of the customers are happy and gratify by operating their account in The Standard Bank Ltd. Because most customers are maintaining their account more than one year.
  • Though the world is being globalize and competitive, so in future to stand in a position they should bring online banking services because majority customers have good knowledge about it and they will be happy by getting this services.
  • Most of the customers are hoping online banking will provide better services to them. Also it will become quicker services and affiliation with foreign banks as well as furnish the banking service with technology.
  • The Standard Bank Ltd is becoming smarter. Clients can take encash cheque or deposit money in between 5 to 10 minutes whereas they are satisfied towards customer service department.
  • Customer mentioned that the present level of customer service department is doing very good because customers reflection tells that they are much better satisfied towards today’s service of The Standard Bank Ltd rather than the past.
  • Customers prefer technology based service rather than mixture service. Because they think they will get quicker and better services from technology based service.
  • Almost all customers maintain account or transaction with other bank. Because ATM card service mainly influence them to open account in other bank. For this reason, The Standard Bank Ltd should start ATM card service to compete with other bank.
  • Through customer service department is first impression of the bank, so management division should be more careful about their improvement. They should improve their internal structure first whereas they can be more motivated and systematic to take any positive further decisions.

Recommendation:

Some necessary recommendations for HR Dept. of Standard Bank Ltd are given bellow:

The Bank should always concern about the world’s latest human resource management Practices. HR officers should be sent to abroad for participating in training courses, seminars and workshops.

To retain and attract quality employees the bank should always try to follow competitive strategy in case of employee benefits, working conditions, and other motivational approaches.  The higher authority of the bank should always try to make a fair evaluation of employees’ performance. They should develop the procedures of evaluation each and every year in accordance with the demand.

Conclusion:

The bank can also start campus recruiting that could bring a yield of highly educated graduates for the entry-level the organization could arrange seminars in the top business schools across our country. Also the company should facilitate online Curriculum Vitae-posting system that is very much effective practice used by the top business organizations over the world. The higher authority of the bank should always concern about the fairness of recruitment and selection. Without having efficient, energetic, enthusiastic people an organization can’t achieve its ultimate goal. A good placement can’t be without having good employee. The human resource department should place the right people in the right position. For this reason they first attempt to find out the human need of the bank in various department, different branches and different positions. The HR division should always careful in constructing different work group.